Bitcoin Forum

As what we have read to some articles that bitcoin is considered as an investment vehicle just like gold. Some may find it ridiculous but as what we can see of bitcoin's performance for the past few years it has increased in a very profitable manner. Many investors' lives that were changed and some even regretted the fact of not investing into bitcoin.

I think there's no need to replace gold when we talk about investments vehicle since gold is tangible and will forever remain on this earth. They will coexist and can both give us profits.

https://zycrypto.com/bitcoin-not-ripe-to-replace-gold-analyst-kristoffer-inton/

Share your thoughts about this.

I don’t see the point in replacing gold but that will happen or not, it is not someone’s choice. Bitcoin has taken some of the gold market. Nowadays many people who own gold actually own paper, or digits, they don’t have the gold stored at home or in a safe in a bank, and bitcoin has a similar function, but it is not centralized.

So, yes, they will probably coexist for a while.

Exactly. There was one theory circulating last year that some gold holders are slowly shifting investments to bitcoin or crypto but it hasn't been proven. We can speculate that they have something to do with the price pushing to a new all-time-high last year. Imagine if bitcoin could get at least 5% of gold investors globally, that will be epic.


Holding both have its advantages and disadvantages. But I'm sure that smart investors would love to get their hands on both assets. And we wanted to diversify as well so bitcoin will easily fit on a gold investors portfolio.

Remember that bitcoin is a very high risk investment. It's like you'll never know if you still have the original amount from couple of days ago or so. And if you invested your entire life savings, you can't sleep very well in that case. While if you have the gold, you're not that scared to lose it the next day. You are still confident that you have your gold investments. But, it's up to an individual where he wants to risk his money. It's his own money anyway.

bitcoin was never supposed to replace gold and it is not even designed to do anything like that simply because bitcoin is a currency while gold is a metal that is used for other things including an investment but never as a currency anymore.

as for only the profitability and the investment aspect of the two bitcoin has already entered investors' portfolios as an investment to diversify while making a lot of profit. i wouldn't call this "replacing gold" but it is pretty similar.

Bitcoin investment tool? First we have to answer this question! For me, right now it is. But, the future mission of Bitcoin is completely different. This can change if it will be successful. But there is another scenario. If altcoins are used and survive, Bitcoin can be always remain an investment tool.

But Bitcoin is not an investment tool like gold, and will never be. Therefore, it is not right to compare these two.

indeed bitcoin was created to improve the existing financial system by cutting time and costs in transactions, and bitcoin was created to replace the role of physical money which are monopolized by the government, but after bitcoin is getting hype and high prices, many people think that bitcoin is very profitable if it's used as an investment instrument so that until now bitcoin was made an investment

I don't agree with you on this. Bitcoin is seen as an investment vehicle not as a currency because of its volatility in value.
The topic is all about replacing gold as an investment vehicle not to compare both. That is why we have this issue since bitcoin is also considered as a good store of value just like gold.

I guess only a few in here who are actually using their bitcoin to purchase something online. Most of us are hodling bitcoin or used them in trading or gambling to earn profits.

Gold and bitcoin are two structurally different things. Also bitcoin is just 10 years old, while gold is few centuries old and established as an investment vehicle. Even though a lot of people nowadays consider bitcoin as an investment vehicle, it should ideally be considered as a currency! So replacing gold or bitcoin by one another is not a sensible argument at all!

While gold is considered as wealth among many communities, bitcoin is especially popular among the tech-savy generation. But if we really want to see a sustainable growth for bitcoin, we must consider it as a currency and not as an investment. 

Bitcoin isn't even an investment tool since we cannot be sure that it will definitely appreciate in the future unlike gold which is tangible and is actually naturally rare so there's always demand for it. The statement was a little absure since bitcoin wasn't meant to replace anything; it was meant to be an option.

it is not just a theory. we have seen the huge attention that was given to bitcoin last year due to multiple factors. starting with its 3 year price rise with a solid movement from $200 to $900-$1000 that is surely going to make the real investors consider bitcoin.
the follow that up with the major adoptions that happened last year such as Japan.
and finally the ATH which was a 20x rise in only one year and even after correction we are still in a 6x rise.

obviously the "real investors" see all this potential and shift at least some of their money into bitcoin.

The point there is, bitcoin is used for both asset and investment. The asset made from bitcoin can be converted into cash likewise gold and you can also invest in bitcoin to hold for the future which is an investment . They both play such function if you will agree....

Yes diversification of that type makes sense, especially that they are not correlated. If we were to buy some highly positively correlated stuff, what would be the difference between that and buying more of the same stuff?

Gold and Bitcoin are two different things.

Gold is purely just an asset while Bitcoin on the other hand has a deeper value. I see more of Bitcoin competing with FIAT rather than GOLD. People are just comparing bitcoin to gold because of the price when we do talk about that Bitcoin's price is just $6,451 while Gold in the other hand $38,301.18 per KILO. Obviously Gold is more valuable but it's price is steady unlike bitcoin.


Therefore Bitcoin as of the moment Kristoffer Inton is right that it's current price is not enough to replace GOLD in terms of price. However if we do talk about usability or as an asset Bitcoin is far far better than Gold.

Gold has always been a solid store of value while bitcoin tend to be more on the lucrative side bringing in profits on the most unusual of times. Also, gold's price movement isn't that extraordinary and tend to take months or years for increases to happen while bitcoin always has the opportunity to rise and profit from the fall. IMO, bitcoin will never be gold, though they can coexist especially in terms of safekeeping assets since both can act as storage of value, though bitcoin is more flexible than gold especially in liquidating one's asset.

Hello,

I agree with you that BTC could not replace gold but his a real alternive to it.

These are differents markets and values. One is tangible other one is network so they have differnt power for people and have both their advantages.

Gold is for me the BTC of fiat, means the reference and will remain s it is because his tangibility. BTC is the gold of crypto as a reference of crypto, most famous and valuable one, kind of crypto like gold is kind of fiat

I know that Bitcoin and other cryptocurrencies will be big someday, but I doubt that they can replace gold since gold has a physical way of getting it.

Well said! Gold will remain a better investment than bitcoin simply because there is an undetermined and perhaps even unlimited chances on mining while bitcoin has a limit although it has been said that it will still take 122 years to finish mining the remaining coins. Plus we must also not forget the fact that bitcoin is still a test. We can't tell what the future holds for it albeit, both has pros and cons. Gold may just be for the chosen few and bitcoin can be for everyone.

I agree, For some reason people think and / or want bitcoin to replace something. I dont get why it is needed so bad, bitcoin s good on it's own it does not need to replace anything

I partially agree with Kristoffer Inton. Bitcoin is still at an infancy stage. There is still a lot to do especially putting its high volatility under control because it is its major shortcoming.

The future looks very unpredictable. The gold after the collapse of the bubble is on a longterm correction that can last a very long time. It is difficult to say whether the next bullrun of gold will be. Perhaps the fall of gold is associated with the popularization of Bitcoin. After the fall of gold in 2011, the era of Bitcoin began.

Bitcoin will never be a mainstream currency. People will always see bitcoin as an investment vehicle.
When bitcoin was invented, Satoshi Nakamoto decided to limit the number of BTC to be mined. That limited supply means that any increase in demand can make its value skyrocket. Would you spend your bitcoin if you have cash, credit card or debit card knowing about the law of supply and demand could make BTC value skyrocket few years from now? No one would ever do that, specially if you believe in the technology and you've already understand how volatile bitcoin values are.

of course not
bitcoin is bitcoin and gold is gold
both are different
the existence of bitcoin is expected to be a currency, investment and bank
whereas gold is a stable currency, investment and jewelry
maybe in the future bitcoin can be considered a commodity like gold

I agree. Bitcoin won't replace Gold. Both can coexist without problems and their values could also be rendered useless with future inventions.





I guess Bitcoin will forever remain on earth too as long as the Internet, human knowledge and computers aren't somehow wiped out of existence.

Gold is undoubtedly an wonderful and ancient medium to exchange, so no matter, gold shouldn't be replaced or kept out. Also, the value of gold usually doesn't go downward, but it also isn't as easy or available to exchange.

Bitcoin is the gold of internet technology, gold is gold in real life by having a stable price and tends to rise. Bitcoin has an unstable value but prices are higher than others.

Bitcoin will not replace gold, banks or fiat, we have to see that everything has advantages and disadvantages and so we have to use everything.

gold is less volatile, so I would buy gold and buy bitcoin to get more profits.

bitcoin is easier to transport and gold and very difficult to transport, so I would buy gold and store in my safe and buy bitcoin to use because it is easier for me to transport

You're correct about that! A digital currency with value will never ever replace a physical object with value, why? because this digital stuff can only be used throughout the internet and with the help of your smartphones and desktop/laptop computers and also some electricity to be able to possess and transact with it unlike gold that it has a physical appearance and you can touch it or hold it without the use of this modern technological things and its value is not as volatile as crypto currencies.
Gold will still be gold and Bitcoin will still be Bitcoin and nothing will change about this two kinds of things that have value. And gold to be replaced by Bitcoin is pretty impossible in my point of view. :)

There's no point in replacing gold. Bitcoin is seen as an investment vehicle not as a currency. Most of us are HODLing bitcoin to earn profits. So,yes,they will probably coexist for a while.

of course gold won't be able to force out anything, especially digital currency. so I don't think that it sometime happens.

The fact that Bitcoin is not ripe for the replacement of gold can be seen with the naked eye. Not enough power promoted and interest from the public.

Bitcoin might not replace gold but still won't change the fact it is still worth investing into just as gold, because both hold a great value and thus make for a good investment.

I never though Bitcoin should replace gold - Bitcoin is supposed to be a currency , not a store of value. This misunderstanding may end up Killing Bitcoin.

Is Gold really a fiat?  :o or a tangible form / asset that can be sold for fiat or exchanged for fiat  ??? Just curious...


Has the argument been that bitcoin was prepared or innovated to replace gold? Or that gold was tired to be known as store of value and asset or a level of affluence?

I was thinking the argument has been that whether bitcoin can function as though a store of value and assets but not to replace gold because gold has not replaced fiat in my view.

Investing in bitcoin might be a ittle riskier than investing in gold. But it can be more profitable. I'm sure a good businessman will be interested in investing in both.

These two items are basically different from its structure as well as some functions. As we all know that gold have been existing for a very long time, it has a big talk in various parts of the world, and especially it is tangile and is recognized officially around the world. When it comes to bitcoin, it’s considered as a currency but it’s not completely accepted officially, and particularly almost countries has imposed a ban on it. No one can deny that bitcoin or digital currency develop quickly and can bring us big potential in the future. But with the current running, Gold is much appreciate than bitcoin about the fixed benefit, I mean bitcoin can’t replace gold. 

that is a very dumb statement which only has half truths!

bitcoin and gold are not even in the same category for bitcoin to try and replace gold! bitcoin is a global and decentralized currency which is unique in its own way while gold is an element which is used for many things but not as a currency and mostly as an investment. so you can't really expect a currency replacing gold! it is like saying USD is replacing gold!

the only thing correct about this statement is the fact that bitcoin is still young and it is in its early stages of adoption.

No one in good mind will think that a virtual currency like bitcoin will replace a too long time treasure that exist in this world like gold,even in the time of Gods this has been mentioned for lots of generations while this cryptocurrency only created 10 years ago and now will be replacing gold?Please clear up your mind and let the blood circulated for you to wake up that this will never happen even for a lifetime,Gold will remain treasure and bitcoin will remain cryptocurrency

of course not, bitcoin and gold are two very different things bitcoin is made for investment, trade and is expected to be a currency, and gold is a place of investment and jewelry that has a more stable price, although bitcoin or crypto in the future is increasingly popular, bitcoin will still as a bitcoin will not replace gold.

it is true that gold and bitcoin are the same investment tools, but they will not replace each other, because they have different roles and roles in life, it will be very difficult to replace gold because people's trust is very high and the number is increasing and not it is extinct, so it is clear that depending on our choices in gold or bitcoin, both are equally profitable but in terms of risk, I think gold is smaller, because the shape is real and the price fluctuations can be said to be quite stable

And if you must know bitcoin was never intending to replace gold the are two very different entity and do even function in the same manner bitcoin is a cryptocurrency base on blockchain technology and is nothing like gold

I think Bitc could replace gold in the future. Nit in the nearest future as cryto market is still very volatile but when Bitcoin's adoption rate will raise significantly, btc has all it beeds to become a virtual gold:
- safety
- rarity
- stability (currently at least through cryto coins)

Bitcoin can be a digital gold because bitcoin is store of value. With limited supply, bitcoin can be more expensive and profitable than gold and i think bitcoin is more flexible than gold when we use bitcoin as payment in merchant

If you ask me the purpose of Bitcoin is not to replace gold and there is also no need for that
Bitcoin and gold are two completely different categories and if you ask me they are not competition to each other.
There will be always people who will prefer physical assets like gold and those who would endorse the digital types of investment like cryptocurrencies.
So I don't why should Bitcoin replace gold and from the point of view that the best is to diversify the investments it's good to choose among multiple choices of different characteristics.

It's not a good thing not to participate in this article. I think both Bitcoin and Gold are a nice investment tool. Both will be valued in the future. Investors can be create a invest box with both.

I think this is right. Bitcoin is not ripe to replace gold because all we know that the inconsistency of bitcoin. Gold is also not consistent but it's value change but in a small amount only unlike in bitcoin when value's change it have a huge difference from the current value. So that's why we can say that bitcoin is not ripe to replace gold. But I know time comes that bitcoin cam be as the same as gold and the same or more than gold's consistency. But it can never replace gold. The more possible thing to heppen is gold and bitcoin will have a great competition in terms of investment.

Someday, a space mining company is going to unload a shit-tonload of gold mined from some asteroid onto Planet Earth. And then, what happens to that ancient 'store of value' that thrived on scarcity once it stops being scarce?

OTOH Bitcoin is capped at 21 million coins, eternally. What would be a better example of scarcity at that time in the not-so-distant future? What then should be better entitled to the title: "store of value"!

The threat to Bitcoin can never be from Gold or any other commodity; neither from fiat. It can only come from competitor coins, or from deranged government action assisted by terrifyingly accurate intelligence.

Who says bitcoin will replace gold? Precisely bitcoin will exceed gold, just waiting for the time until that time arrived. Gold can be produced freely, but not with bitcoin.

You're right. Bitcoin can be compared to gold, but I think that it will not be able to oust gold from the investment market. People will continue to invest in gold, as this investment confirms many years of successful experience. Conversely, many are afraid to invest in Bitcoin, because they still do not know exactly what it is

Why would Bitcoin need to 'exceed' gold? Also, who says that gold's market cap won't be heading over $10 trillion by the time Bitcoin really takes off? Bitcoin increasing in value means the legacy system is messing up.

When the legacy system messes up, traditional farts park their capital in gold as safe haven asset, which means that Bitcoin has an even longer way to go in order to catch up on gold.

Another thing is that Gold can't be produced freely. It's even unprofitable for most businesses in the industry to mine gold right now with how the price hovers around or just below the break-even point.

gold is a generally accepted valuable  and is worth tangible thing and also can be exchanged as it is globally accepted as it is among the precious stone in the globe. lets not forget that it came through a process just as the bitcoin is currently undergoing processes. and it is only a matter of time before it becomes a standard

I don't think Gold and Bitcoin will ever replace each other. Gold is probably safer than Bitcoin overall since its value will probably never disappear, nor does it fluctuate as much. Bitcoin works great as an investment (https://www.smartbitcoininvestments.com/) since it is both secure and transmutable. I would recommend getting a reliable hardware wallet or rolling over your IRA or 401k into cryptocurrencies. There are some places like Vaultoro where you can invest in both gold and bitcoin.

I would definitely do the research and, personally I would invest in both. 

Gold still is a currency which is traded between big traders like banks and goverments. Saying that gold is not a currency according to which it is not mostly traded between individuals is not right. Like gold, bitcoin is considered by people as an investment instrument.

I agree with you in the sense that you can not put in one row bitcoin and gold. All that connects them-it's two wonderful types of investment. But there the similarity ends. It is fundamentally different and each has a number of advantages and disadvantages.

One can also say that maybe the world is not ripe enough for Bitcoin, not ripe enough for such powerful investment vehicles like the crypto currencies.
Many big investors rely on economists, and I truly believe that most of them just don't comprehend deflationary (crypto) coins.

I do not believe that bitcoin should replace gold. It is an alternative to choose where you want to invest your money. And you can invest in both-in bitcoin and gold. That's great.

Why would he replace the gold? These are two radically different types of investments, so one can not replace the other. Gold is reliable, time-tested and can be touched. Bitcoin is a more modern type of investment, and besides, it is a currency. Therefore, bitcoin should not be considered as a replacement for gold.

Bitcoin and Gold will never replace each other. Gold will forever have value in its pure form, especially with the myriad of technological uses which gold possesses. Bitcoin, on the other hand, is backed by the blockchain and is only 10 years old at this point. It is somewhat volatile however the invention of the Blockchain means Bitcoin will be here forever.

Those who have Bitcoin and Gold and want to trade amongst one another can use a service such as Vaultoro or GoldMoney. Take a look at this guide for more information: https://www.smartbitcoininvestments.com/how-to-buy-gold-with-bitcoin/ (https://www.smartbitcoininvestments.com/how-to-buy-gold-with-bitcoin/)

I see no point in replacing gold with bitcoin. These products can only be compared as an investment instrument and a product with a potentially high price. But only gold will never bring you fabulous profits, unlike bitcoin, as well as it will save you from the risk of capital loss.

Bitcoin is completely different to gold in so many ways. Bitcoin only exists on computers, gold on the other hand is a very useful metal that is used in those computers-and it is this usefulness that gives it an intrinsic value as well as it's decorative use. Bitcoin is more like the financial instruments devised by bankers, therefore Bitcoin can and will never replace gold and gold wont replace bitcoin. 

Gold is the most unjustified expensive resource imposed on people. It's just nonsense that some iron is worth a lot of money just because someone decided so. I do not like gold even in appearance. Unlike gold, bitcoin and blockchain have a really useful and progressive function for mankind

Both have own indentity of importance for the investors
Gold are physical form of investment they can keep it in the house or in the safety bank
Gold are investment for long term every year their price increasing unlike bitcoin are up and down their value
Bitcoin as investment is very risky than gold because of high volatile and possible to hack by the hacker
Bitcoin and gold are profitable depends on the people choices and uderstanding about investment

Bitcoin was designed to improve the financial system by reducing time and fees of transactions and becoming a decentralized alternative to the traditional money controlled by governments. But as long as Bitcoin develops, its functionality extends, and people start to use it as a store of value like gold. But it can’t replace precious metal. Gold and Bitcoin are two different things that will just co-exist.

Who told him that Bitcoin is trying to replace gold!? that man is in serious misconception regarding bitcoin! he don't even know the things he talks about! shame!

Bitcoin is indeed not ripe to replace gold. But other people are free to choose to invest in gold or bitcoin. In my opinion, Bitcoin and gold have the same function, but the difference is, bitcoin is not centralized and the price of bitcoin is very volatile. As long as holders and communities still believe in bitcoin, what is wrong with them investing in bitcoin? it is their choice

Gold has been in existence for quite centuries.
So bitcoin can't just come in one or two years and says it wanted to liberate or displace gold....no no not possible. A lot gold has achieved and done and gone through in the market which bitcoin hasn't been through half of it.

I agree with this statement and I personally believe that this was what the creators had in mind when they BTC was built. The point is that both gold and BTC are scarce. One day, we will dig out all the gold the Earth has and mine all the BTC there are. And that will determine the price of it. Exclusivity, secrecy. They are discovered, created at different time and of course with different features, but with the similar purpose. And BTC will not replace it, it will simply become an asset with the same features and value as the gold is today. Maybe that is a good way to put it, in 50 years BTC will be what is gold today.

It is never meant to replace Gold anyway?

Yes, many investors regret for not investing in bitcoin  because it would give them good profit, considering that they invested in right time off course. I bet that many investors that invested late are regretting for getting involve in it at all. It`s all matter of perspective, a point in time.
Gold is much more stable and has been known as the most precious metal for centuries, highly valued among the people. Bitcoin is different thing, its value is highly variable and unstable so people that are willing to invest put themselves in much bigger risk. If there wasn`t that huge last years growth in value I am pretty sure that not many investors would even consider bitcoin as some sort of investment.
I agree that people should do both, investing in gold and in bitcoin, spreading assets in their own regime.

it sounds exactly like a description of a bubble. Well, I believe that bitcon is not the bubble and it will still eventually grow with the growing adoption
Yes, the assets are different type and not so correlated, so it makes sense to diversify between them

Gold is not enough to compare to bitcoin.
Its price is never go high like what BTC did in the market.
Though the only difference is you can hold and wear your gold!

You are somewhat right on that statement. I can tell that you were probably one of the early adopter of bitcoin (cryptocurrency) because you were obviously (with no hesitation) consider bitcoin as a currency.

The problem with the statement made by kristoffer is that his perspective towards bitcoin is different. Just like the other bitcoin users who consider bitcoin as a pure asset (like Gold) and not a currency.



As I've seen towards the new adapters is that just like kristoffer they think bitcoin as an asset like GOLD.

There are a lot of similarities between Gold and Bitcoin, but they are not the same and Bitcoin will never replace Gold as a precious metal, because you cannot replace a metal with something that are digital. Let's take a quick example of one of the features of Gold that Bitcoin cannot replace, namely : " Gold is a very good conductor of electricity " -- How will Bitcoin replace that?

Gold is also used in dentistry because it is chemically inert, nonallergenic, and easy for the dentist to work with. -- How will Bitcoin replace that?

The two things cannot replace each other, but people might invest more in one of the two, because they like some of their features. <Store of value>  ::)

Gold do not make me money in 2018, I don’t know why would anyone want to invest into it, they should make more money and stop flaming bitcoin.

That's right, bitcoin is impossible to replace gold. Bitcoin is a digital currency, physically nothing. While gold is a real object, there is a physical. The use of bitcoin is wider than gold, because it can pay for transactions that exist throughout the world at the same time, because it uses the internet and computers or smart phones. While gold, can not be used in a short time because there are regulations.

It can replace gold in some ways, some brave investment banks may decide to use bitcoin for moving funds around rather than gold. However, you can't jewellery out of bitcoin so gold will always be in demand

   
    Gold will be only that, jewellery. Crypto-currencies will change the economy we know, now it`s clear that more than ever. Price
dropped, talking about crypto-currencies raised a lot, now everyone talks about it. It`s just the beginning, later they will want
to have some crypto-currency and they will be in.
    Analyst Kristoffer Inton have a lot of gold, talking in favor of gold is what he needs to do to try to protect his asset. Frankly
he needs to think about diversifying and investing in Bitcoin.